Steven B. Tanger (SKT) awarded 5,207 LTIP units convertible into common shares

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Tanger Inc. director Steven B. Tanger received an equity-based award of 5,207 Basic LTIP Units of Tanger Properties Limited Partnership on February 13, 2026. These units were granted at a stated price of $0.0000 per unit as a form of compensation.

If and as these Basic LTIP Units become vested and certain tax-related capital account conditions are met, they automatically convert into non-voting Class C Common Units, which may then be exchanged by Tanger on a one-for-one basis for Tanger Inc. common shares. These Basic LTIP Units are intended to qualify as profits interests for U.S. federal income tax purposes and are scheduled to vest on February 15, 2027, subject to possible accelerated vesting in cases such as death or certain involuntary terminations. Following this award, Tanger directly holds a total of 10,267 such units, including units previously converted into Class C Common Units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider TANGER STEVEN B

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Limited Partnership Units exchangeable for Common Stock	5,207	$0.00	--

Holdings After Transaction: Limited Partnership Units exchangeable for Common Stock — 10,267 shares (Direct)

Footnotes (1)

Reflects an award of Basic LTIP Units of Tanger Properties Limited Partnership, which, if and as they become vested, and conditioned upon the satisfaction of minimum allocations to the capital accounts of the Basic LTIP Units for federal income tax purposes, are automatically converted into non-voting Class C Common Units. Class C Common Units may be exchanged by the reporting person for Tanger Inc. common shares on a one-for-one basis. Basic LTIP Units are intended to qualify as profits interests for US federal income tax purposes. These Basic LTIP Units are scheduled to vest on February 15, 2027 (subject to accelerated vesting in certain cases, such as death and certain involuntary terminations). Includes Basic LTIP Units which were automatically converted into Class C Common Units. See footnote 1 discussing the conversion of the Basic LTIP Units.

Form 4 Insider Transactions: What Each Field Means →

02/18/2026 - 08:13 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

TANGER STEVEN B

(Last)

(First)

(Middle)

3200 NORTHLINE AVENUE, SUITE 360

(Street)

GREENSBORO

27408

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
TANGER INC. [ SKT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/13/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Limited Partnership Units exchangeable for Common Stock⁽¹⁾	⁽¹⁾	02/13/2026		A		5,207⁽²⁾		⁽¹⁾	⁽¹⁾	Common Stock	5,207	$0	10,267⁽³⁾	D

Explanation of Responses:

1. Reflects an award of Basic LTIP Units of Tanger Properties Limited Partnership, which, if and as they become vested, and conditioned upon the satisfaction of minimum allocations to the capital accounts of the Basic LTIP Units for federal income tax purposes, are automatically converted into non-voting Class C Common Units. Class C Common Units may be exchanged by the reporting person for Tanger Inc. common shares on a one-for-one basis. Basic LTIP Units are intended to qualify as profits interests for US federal income tax purposes.

2. These Basic LTIP Units are scheduled to vest on February 15, 2027 (subject to accelerated vesting in certain cases, such as death and certain involuntary terminations).

3. Includes Basic LTIP Units which were automatically converted into Class C Common Units. See footnote 1 discussing the conversion of the Basic LTIP Units.

Remarks:

	/s/ Thomas J. Guerrieri Jr., attorney-in-fact for Mr. Tanger	02/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What did Tanger Inc. (SKT) director Steven B. Tanger report on this Form 4?

Steven B. Tanger reported receiving an award of 5,207 Basic LTIP Units as equity compensation. These partnership units can ultimately convert into non-voting Class C Common Units and then be exchanged one-for-one for Tanger Inc. common shares, subject to vesting and tax-related conditions.

How many equity-based units does Steven B. Tanger hold after this SKT transaction?

After the reported award, Steven B. Tanger directly holds a total of 10,267 units. This figure includes the newly granted 5,207 Basic LTIP Units and other Basic LTIP Units that have already converted into Class C Common Units, as described in the filing footnotes.

When do Steven B. Tanger’s newly granted Basic LTIP Units in SKT vest?

The 5,207 Basic LTIP Units are scheduled to vest on February 15, 2027. Vesting can accelerate under certain circumstances, including death or specified involuntary terminations, which would allow earlier conversion into Class C Common Units and potential exchange into Tanger Inc. common shares.

How can the Basic LTIP Units reported for SKT be converted into Tanger Inc. common shares?

Once vested and after satisfying minimum capital account allocation requirements for tax purposes, Basic LTIP Units automatically convert into non-voting Class C Common Units. These Class C units may then be exchanged by Steven B. Tanger for Tanger Inc. common shares on a one-for-one basis, according to the filing.

What is the economic nature of the Basic LTIP Units reported by Steven B. Tanger for SKT?

The Basic LTIP Units are designed to qualify as profits interests for U.S. federal income tax purposes. This means they primarily participate in future growth in value rather than existing capital, aligning Steven B. Tanger’s incentives with Tanger Inc.’s long-term performance and unit value appreciation.

Did Steven B. Tanger buy or sell SKT common stock in this Form 4?

The Form 4 reflects an acquisition of derivative securities, not an open-market stock trade. Steven B. Tanger received 5,207 Basic LTIP Units as an award at a stated price of $0.0000 per unit, which may ultimately convert into Tanger Inc. common shares upon vesting and exchange.